Uber's CEO Kalanick wasn't fired for bad behaviour

Mr Kalanick's ouster is another reminder that meteoric growth and arresting vision are never enough. A CEO who is making a healthy profit for his firm has a secure position; but, even in Silicon Valley, a company that needs investors to stay afloat will sacrifice a founder if needed, whatever the company's by-laws.

PHOTO: REUTERS

London

AFTER a string of scandals and embarrassments, Uber's embattled CEO Travis Kalanick was forced to resign. The assumption is that he was pushed out for bad behaviour. The truth is more prosaic: the other problems compounded the basic one that he lost a lot of money. Uber lost US$2.8